RXO (NYSE:RXO) Price Target Cut to $28.00 by Analysts at Wells Fargo & Company

RXO (NYSE:RXO) had its target price dropped by stock analysts at Wells Fargo & Company from $31.00 to $28.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 11.02% from the stock’s previous close.

Other analysts have also issued reports about the stock. Oppenheimer reiterated an “outperform” rating and set a $31.00 target price on shares of RXO in a report on Tuesday, September 17th. Susquehanna dropped their price objective on RXO from $16.00 to $12.00 and set a “negative” rating for the company in a report on Tuesday, November 12th. Benchmark reiterated a “hold” rating on shares of RXO in a research report on Tuesday, October 15th. The Goldman Sachs Group restated a “neutral” rating and set a $29.00 target price on shares of RXO in a report on Monday, November 18th. Finally, Citigroup cut shares of RXO from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.27.

RXO Trading Down 0.3 %

Shares of RXO stock opened at $25.22 on Tuesday. The business has a 50-day moving average of $27.28 and a 200 day moving average of $27.82. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 1.33. RXO has a 1-year low of $18.75 and a 1-year high of $32.82. The stock has a market capitalization of $4.06 billion, a PE ratio of -12.74, a P/E/G ratio of 15.82 and a beta of 1.52.

RXO (NYSE:RXO) last issued its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $956.19 million. During the same quarter last year, the business earned $0.05 earnings per share. The business’s revenue was up 6.6% on a year-over-year basis. As a group, sell-side analysts anticipate that RXO will post 0.12 earnings per share for the current year.

Hedge Funds Weigh In On RXO

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC grew its stake in shares of RXO by 439.5% in the 3rd quarter. FMR LLC now owns 47,837 shares of the company’s stock worth $1,339,000 after buying an additional 38,970 shares during the last quarter. Primecap Management Co. CA boosted its holdings in RXO by 20.7% in the second quarter. Primecap Management Co. CA now owns 1,020,900 shares of the company’s stock worth $26,697,000 after acquiring an additional 175,300 shares in the last quarter. Citigroup Inc. grew its stake in shares of RXO by 132.4% in the third quarter. Citigroup Inc. now owns 196,748 shares of the company’s stock worth $5,509,000 after acquiring an additional 112,073 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of RXO by 7.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,068,380 shares of the company’s stock valued at $57,915,000 after acquiring an additional 136,886 shares in the last quarter. Finally, Driehaus Capital Management LLC purchased a new position in shares of RXO in the 2nd quarter worth about $19,965,000. Institutional investors own 92.73% of the company’s stock.

About RXO

RXO, Inc provides full truckload freight transportation brokering services. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was incorporated in 2022 and is based in Charlotte, North Carolina.